Do some chart and technical analysis over lrc to us dollar tether before we get started. I wanted to explain kind of the background for why bloopering or lrc isnt behaving the way it is so lrc is currently up 25. On the day, i believe, when i looked at this earlier within the last 24 hours, it was up 61 but were starting to correct just a little bit in terms of the last seven days were up right around 80 to 100 percent. But this is the news that all of the price action is currently based on speculation and rumors. With a little bit of confirmation, there may be a partnership between gamestop and lrcs scalable layer, 2 technology, which allows you to make ethereum or ethereum purchases for a much lower transaction cost. A lot of people are running into extremely high transaction costs at the moment. Buying nfts buying just regular cryptocurrencies, with ethereum running from 60 to 150 dollars, but you can check out this article by andrew hayward on ill put a link straight in the description. These are the really important points from the article that explain the rumors and the possibilities for a partnership. Everything thats been announced and hinted to in terms of gamestop teaming up with lrc, offering a nft marketplace as well as web 3 gaming solutions, so go ahead and check that article out i dont want to run too deep into it, because im not really an events Based trader at all, but as we look at the chart, there are a few things i want to know so were currently sitting at two dollars and seventy cents.

Just a few hours ago, or really a few minutes ago, we were sitting at right. Around 2.77 2.78 cents, weve already seen a new all time high. Is that a new all time high? I believe it is a new all time, high close to three dollars and four cents, but weve got no closes above right around two dollars and 79 cents, so thats. What i want to see right now at the moment, first confirmed on the four hour candlestick time frame in the daily and then the weekly. We probably only need a four hour and a daily candlestick confirmation above three dollars flat thats, currently acting as a psychological resistance. Weve seen a slight penetration, but not a close in a confirmation above three dollars, thats, really what we need to see in order to continue this long term, bull trend or really our intermediate term bull trend. This has been happening or weve seen all this price action from right, around 35 36 cents up to our current all time, high of three dollars and four cents within the past two to three weeks so other than that. What is really hinting at a possible correction because theres two things we could see, we could blast straight through that three dollar resistance or we could see a nice heavy correction that would act as a great opportunity to buy a little bit cheaper before the continuation of This overall bull trend, because i think thats really what were going to see, were currently running with rumors right now, we havent seen any confirmation from loopering or gmc gamestop.

When we see those news articles confirming thats, probably when were going to want to sell so were buying the rumor right now and were going to want to sell the news once all this comes to fruition and maybe eventually once that nft marketplace actually launches so were Currently, sitting at an overall market cap of close to 3.6 billion with a market cap rank of 53 in terms of all the cryptocurrencies, i think that a coin like this is going to act very similarly, as were seeing doge and shiba inu act, its acting based On community engagement and speculation, and then we see institutions piggyback because the redditors and the social media users that are really driving this price action, dont have enough trading volume. Dont have enough investable equity to push the prices up to the prices that weve seen for doge or shiba inu whats really pushing those prices up after that. Little initial launch, like were seeing right now for loopering, are going to be institutions piggybacking on all that community. Investing so we may see the very same thing with loot ring, but i dont want to speculate before. We actually see confirmation. We could see a breakout, we could see lrc rivaling, doge or shiba inu. It definitely has a better actual use case and better technology than something like doge or shiva inu, its currently sitting at 3.6 billion dollars. Dojinshibainu are close to 10 times that so if we saw lrc go 10x, i would not be surprised that may be where you want to set your cell target, maybe somewhere around half that so between plus 500 and plus 1 000.

From our current price action, i wouldnt be surprised to see that at all, obviously everybody was surprised to see those pumps from doge and shiva inu, but lrc is a very reputable token with solid technology that is solving a current main issue for ethereum and for nft Purchasers so we may actually see it move higher than something like doge or shiba inu, but because im not an event based trader and i dont like to speculate as much as i did before. We are going to wait for that confirmation above three dollars with a four hour, candlestick close above three dollars and then were gon na wait for that daily, candlestick close above three dollars. We might want to wait for the weekly close, but im a little too impatient. So im gon na wait for that daily, candlestick close above three dollars, and we can go ahead and open up that long side, trade. Now. What we could very well see as well would be a nice little correction and breakdown that allows us to buy the dip for this coin. Where would we see that breakdown too? Well, really, the only support we have on the chart in terms of local price action is going to be close to right through here at two dollars and twelve cents. So if we saw a rejection from right around three dollars really, if we saw a little bit more percentage based confirmation breaking back down below our current price of 2.

68, so lets say we come down. We break below 250, we break low 240 and we see closes below these levels. People stop losses, start to hit. We come back down a little further and that area between right, around 212 and maybe 220, is probably going to be the best area to buy back. In if we see a full on correction from our current price levels, so weve really got two options. Here we either see a correction to close to 210 to 220. That gives us a fantastic opportunity to buy for further speculative price action that follows, or really once the mainstream media starts to grasp on to this gme and lrc partnership news. But the other option is obviously going to be that we blast straight through three dollars. We see that confirmation on the four hour see that confirmation, on the one day above three dollars and we go ahead and push a lot higher, so thats really what we have at the moment. We could run an elliott wave analysis on our current chart, but it really just tells us the exact same thing. I just said that, basically, if we are currently in our fifth wave – or this was an extended fifth wave, we could just break down see a good correction. If we have a different count or if weve already reset – and we are on a new first wave, then we could just see a break straight through three dollars, but we dont need all of that when we can just sit and wait for a nice close above Three dollars or a nice clothes blow right around two dollars and fifty cents, so thats what we have on the chart at the moment with confirmations.

Remember you can check out this article. That explains all of the rumors and all of the news regarding lrc and gamestop by andrew hayward thatll be linked in the description. Finally, i would like to thank you all for watching. Remember you can click that first link in the description. If you like to follow my personal trades, i post three of them per week, theres even a track record via that same link.